When something is paid in advance and must be expensed over one or more months in the future, accounting professionals must properly record the expense in a timely manner. The normal method for making this monthly entry is to use a journal entry (debit expense, credit prepaid expense). Advertisement. Many businesses make use of one Prepaid Expenses asset account in which several prepaid expenses commingle.
Homeopathic remedies are regulated by the U.S. Food and Drug Administration (FDA). However, FDA does not evaluate the remedies for safety or effectiveness. Several key concepts of homeopathy are inconsistent with fundamental concepts of chemistry and physics.
Apparently, the HPCUS believes it is a lawful substitute for the Agency in the drug approval process. An industry representative active in the HPCUS claims that: Instead of the [FDAâs] new-drug-approval process [for all other drugs], premarket approval for homeopathic drugs is by way of monograph approval by HPCUS.